Copper opens high and goes high The upward momentum is recovering

In terms of the market, domestic spot copper prices continued to expand and rise, Guangdong spot 1# copper price was 53770 yuan / ton, up 1100 yuan; Yangtze River spot 1# copper price reported 53710 yuan / ton, up 1110 yuan, discount 10-liter 10; Shanghai spot 1# copper price was 53610 yuan / ton, up 1040 yuan
.
Holders are willing to ship for cash positive, the morning market opens good copper is reported flat water, with traders into the market to suppress prices, discount soon expanded, good copper minimum reported to discount 30 yuan / ton shipment, flat water copper discount 60 ~ 50 yuan / ton, imported copper such as PSR this can be pressed price to discount 80 yuan / ton, wet copper quotation does not change much, downstream fear of heights, transaction is still based on trade bargain procurement
.

On the news front, U.
S.
stocks closed higher on Wednesday as financials rose as investors focused on strong economic data and trade war worries took a back seat; The Nasdaq index closed at a record high for the third day in a row
.
The U.
S.
trade deficit fell to a seven-month low in April, reinforcing views that the Federal Reserve could raise interest rates at least twice for the rest of the year, adding upward pressure
on Treasury yields.

After the macro risk is gradually released, the upward momentum of the market is recovering, and copper prices are breaking upward
with the support of supply and consumption.
It is estimated that in the short term, copper prices will continue to challenge last year's high of $7312, and if successfully breached, copper prices may still move upwards to $7500 and $
8000.
Domestic copper prices also broke above 52,500 yuan, and the future market still has the possibility
of challenging last year's high of 56,000 yuan.